Perimeter Solutions (NYSE:PRM) Upgraded at UBS Group

UBS Group upgraded shares of Perimeter Solutions (NYSE:PRM) from a neutral rating to a buy rating in a research report released on Wednesday, Marketbeat.com reports. The firm currently has $14.00 price objective on the stock.

Perimeter Solutions Trading Down 3.2 %

PRM opened at $10.28 on Wednesday. The company has a market cap of $1.54 billion, a P/E ratio of -73.39 and a beta of 1.93. The company has a current ratio of 3.91, a quick ratio of 2.95 and a debt-to-equity ratio of 0.67. The company’s 50 day moving average is $10.97 and its 200-day moving average is $12.23. Perimeter Solutions has a 1-year low of $6.84 and a 1-year high of $14.44.

Perimeter Solutions (NYSE:PRM) last issued its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.21. The firm had revenue of $86.23 million for the quarter, compared to analyst estimates of $77.01 million. Perimeter Solutions had a negative net margin of 1.05% and a negative return on equity of 7.62%. Equities research analysts predict that Perimeter Solutions will post 0.71 earnings per share for the current fiscal year.

Insider Activity at Perimeter Solutions

In related news, Director Vivek Raj sold 250,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $9.17, for a total value of $2,292,500.00. Following the completion of the sale, the director now directly owns 471,226 shares in the company, valued at $4,321,142.42. This represents a 34.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Perimeter Solutions by 136.8% in the 4th quarter. Vanguard Group Inc. now owns 8,211,593 shares of the company’s stock worth $104,944,000 after purchasing an additional 4,744,069 shares during the period. Corient Private Wealth LLC bought a new position in Perimeter Solutions during the fourth quarter worth $41,780,000. JPMorgan Chase & Co. lifted its holdings in Perimeter Solutions by 19.9% in the fourth quarter. JPMorgan Chase & Co. now owns 5,856,611 shares of the company’s stock valued at $74,847,000 after buying an additional 971,623 shares during the period. Bessemer Group Inc. boosted its position in Perimeter Solutions by 10,103.3% during the fourth quarter. Bessemer Group Inc. now owns 923,811 shares of the company’s stock valued at $11,806,000 after acquiring an additional 914,757 shares during the last quarter. Finally, Catawba River Capital acquired a new stake in Perimeter Solutions during the 4th quarter worth about $7,658,000. 89.93% of the stock is owned by institutional investors and hedge funds.

About Perimeter Solutions

Perimeter Solutions, SA manufactures and supplies firefighting products and lubricant additives in the United States, Germany, and internationally. It operates in two segments, Fire Safety and Specialty Products. The Fire Safety segment provides fire retardants and firefighting foams, as well as specialized equipment and services for federal, state, provincial, local/municipal, and commercial customers.